FranchisingFeature senior care
january 2018
Addressing the Next Great Issue Facing Our Nation:
Senior Care
From Baby Boomers to
Booming Business Opportunity Why Your Senior Care Staffers Need to Be Great Listeners Franchising USA
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what’s new!
FirstLight Home Care Appoints Julie Doyle as Executive Director of Human Resources
FirstLight Home Care has appointed Julie Doyle as its new executive director of human resources, talent acquisition, and client care services. Doyle has more than 25 years of
experience leading the strategic human
resources and talent acquisition function in various industries, including large franchise businesses.
“My goal is to ensure our franchisees are
“One of the biggest challenges in the home care industry is the recruitment and retention of great caregivers,” said Jeff Bevis, CEO of FirstLight Home Care. “Finding those folks who share your vision and core values of serving others, and being able to retain them, is challenging. Julie has the skills and depth of experience we were seeking. She will work closely with company executives and franchisees to help them develop talent and execute a people strategy to further cultivate FirstLight’s culture of care.”
their own business to help attract, retain
Doyle will direct FirstLight’s human resources team and create a strong foundation for the franchise’s recruiting program. This includes overseeing all human resources policies, practices and procedures, and supporting all franchisees and members of the franchise team to deliver the highest level of service.
successful through their people -- to help
each owner cultivate the culture of care in and develop their caregivers,” Doyle said. “If franchise owners cultivate our culture of care philosophy with their caregivers, their caregivers will continue to provide exceptional care to clients.”
FirstLight offers complete non-medical
companion and personal care services for seniors, new mothers, those recovering
from surgery and other adults in need of assistance. Services include bathing and
hygiene, walking and mobility assistance,
continence and toileting assistance, as well as household services such as cooking, cleaning, and running errands.
For more information about franchise opportunities, visit www.firstlightfranchise.com.
Senior Helpers® Opens Doors in Hilton Head Senior Helpers®, one of the nation’s premier providers of personalized in-home senior care, today announced the official opening of its Hilton Head location, to be managed and operated by Scott and Christine Wellinger. The new franchise will serve senior citizens and their families throughout the Hilton Head area, which includes Dorchester, Charleston, Colleton, Beaufort, Hampton and Jasper counties. It hopes to bring more than 50 new jobs to the region over the next year. Senior Helpers’ professionally trained caregivers will help local seniors continue to enjoy the comfort of their own home despite age-related illnesses and mobility challenges. “We were drawn to Senior Helpers by the quality services it offers, and the potential to be a part of a company that is known as the first in the industry to provide specialized caregiver training in Alzheimer’s, Dementia, and now, Parkinson’s disease care,” said Scott Wellinger. “Our team is proud to provide a
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valuable resource to our community by helping to alleviate the stress associated with caregiving and ensure a better quality of life for families through personalized in-home senior care.” “We’re pleased to welcome Scott and Christine to our team as the newest Senior Helpers franchise owners,” said Chris Buitron, chief marketing officer, Senior Helpers. “Scott and Christine bring a passion for their community and an understanding of the importance of in-home senior care to their new roles. This will serve them well and be rewarding for seniors and families living in Hilton Head and the surrounding area.” www.seniorhelpers.com
Always Best Care Senior Services Highlights ‘Always In Touch’ To Drive Awareness Of Senior Isolation Always Best Care Senior Services, one of the leading senior care franchise systems in the United States, aims to provide companionship to seniors and disabled adults through its proprietary telephone reassurance program, Always In Touch. The exclusive and absolutely free program provides a friendly voice by phone call each weekday for enrolled clients, and Always Best Care is one of the only major senior care franchise systems to provide this kind of program as a service to its clients. “Research has shown that more than 8 million adults over 50 are affected by isolation,” said Jake Brown, CEO of Always Best Care Senior Services.
“Always Best Care launched Always in
Today, the company provides the Always
daily check-ins or weekly socialization
disabled adults across the U.S. and Canada
Touch in 2012, offering complimentary
In Touch service to dozens of seniors and
calls to our clients and providing them
year-round. In addition to Always In
alone. We’re incredibly proud to offer
special services, including Always Safe, a
growing it to combat this issue.”
www.alwaysbestcare.com
with a sense of security that they’re not
Touch, Always Best Care offers an array of
Always In Touch and hope to continue
fall prevention and detection program.
Six BrightStar Care Salt Lake City Employees Nominated for BrightStar Care’s Caregiver of the Year Award Six caregivers at BrightStar Care Salt Lake City, a home care agency that also provides medical staffing solutions, were recently nominated for BrightStar Care’s Caregiver of the Year. “This is the second year in a row that multiple members of our team here in Salt Lake have been nominated for this national award. We are so thrilled to have such a dedicated team for our clients,” said Tammara Brown, owner of BrightStar Care Salt Lake City. Each year, BrightStar Care reaches out to the people that have been touched by their caregivers and asks them to share their experiences, and if they see fit to nominate their caregiver for Caregiver of the Year. BrightStar Care Salt Lake City caregivers
who were nominated include Brenda Jones, John Collins, Shirley Smith, Sharon Langi, Katie McNally and Maria Ramirez. “Maria is very patient with my wife, and helps her put puzzles together, work crossword puzzles, and strengthen her reasoning skills. She shows compassion and care at all times,” noted Michael C, who nominated Maria for Caregiver of the Year. “She is very observant, and makes sure that my wife’s medical cares are taken care of. She is always so cheerful and helpful. We look forward to her time with us.” Added Venus C, who nominated Sharon Langi, “My caregiver is so special that it’s hard to come up with words to describe her. Sharon is such a caring person and
so dedicated to her clients that words are
inadequate. I am one of the lucky ones to have her caring for me. She has become like family.”
BrightStar Care Salt Lake City’s Joint
Commission-accredited care is delivered under the supervision of its full-time,
transitional care management-certified Director of Nursing, Deborah Parker, and by experienced and professional caregivers.
For more information, visit www. brightstarcare.com/salt-lake-city-east.
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Featu re
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Senior C
FRANCHISING FEATURE
With an aging population in the US, senior care has been an important issue in the economy. Seniors account for 16 percent of the country’s population in 2011 and the number is rising to 20 percent by 2060. Seniors are living longer and therefore expecting a wide range of care, from facilities to health care to general daily living. There is a plethora of amenities that
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Care
EATURE
“The franchise industry has prepared itself for the aging population and cashed in on services that appeal to the elderly.” loved ones. Franchises have an established name and reputation that customers can trust. It’s important to consider a franchise for this type of senior care because there are a lot of legalities and red tape to follow when it comes to home care. A franchise would insure that all your tracks are covered, while also creating a brand that is well-recognized, advertised and dependable.
are specific to seniors, while other areas of businesses cater specifically to certain age groups. The franchise industry has prepared itself for the aging population and cashed in on services that appeal to the elderly. Children want the best facilities for their parents as they age, and there is a lot of buying power within the hands of the baby boomers. It’s a safe investment from a franchisee’s perspective because people are constantly aging and it’s an ongoing need. A better understanding of how to accommodate seniors has created many new business opportunities to consider.
Home Care A lot of seniors find difficulty in certain tasks as they get older and leaving them at home alone can be a worry for their family members. While their extended family continues to work, they cannot be available constantly to their loved ones. Home Care workers are a perfect balance that allows seniors to remain within the comforts of their own home, while someone can assist them in their day-today activities. Family members can rest at ease knowing their parents are safe and healthy, while also happy that they are not removed from their house. People now turn to businesses that have a staff of reliable trainees to care for their
A down side to a home care franchise is there may be competition with health care facilities that run on a lower budget. The upkeep of a facility can be expensive and the buy in can run high. This type of business has a high turnover rate, which means that a franchisee may have to step in and take over the menial tasks. Otherwise, when a secured and reliable staff is set in place, it can usually run itself. It has one of the biggest returns on investment, as one of the top five most profitable businesses in the US in 2012.
Senior Homes Some seniors prefer to leave their own homes and move into a complex that performs most of the day-to-day duties. These facilities usually have a health care staff for emergencies, but the tenant
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“This is a largely mobile franchise that collects blood and samples from clients within their own homes. People like to pay for convenience more than anything.” Respite Care This type of franchise is for those who
need medical attention and care as they
age. This is a more specific type of health
care facility and it’s home to some persons
“Senior care franchise options cover a lot of bases and include very different types of facilities that caters to a variety of senior’s needs.”
with disabilities, as well as those who are ill.
A franchise is a safe investment as there is a lot of insurance and legalities involved
in the ownership of a health care facility. has a personal room that allows some control and comfort. Senior homes could be full apartments that charge extra for emergency services and home care work, including snow removal, garbage and general upkeep. While some other facilities are similar to a hotel with bedrooms and common eating areas. There are pros and cons to each option. A lot of research is needed to determine what is the best option and it depends on what an investor would prefer. A common
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eating area might cost more due to food prices and staff costs, but personalized kitchens might be an insurance liability. Either way, a franchise is the best bet because it covers all the bases without risk. Those interested in senior care homes, but are not sure which route to pursue would benefit from visiting local homes and speaking with other franchisees. They can explain first hand how involved they are in the process and how easy their franchisor has made it for them.
Research into the policies and procedures would be the best first step from this type of senior care. A look at the health care
coverage within the state could determine whether or not your competing with
covered health care providers at a lower budget.
Though no previous experience is
necessary, someone who is well versed
in health care, senior care or health care
management would be well suited for this franchise.
Blood Collection Though a blood collection or sample collection franchise would not specialize in senior care specifically, it would cater to mainly the aging population. This is a largely mobile franchise that collects blood and samples from clients within their own homes. People like to pay for convenience more than anything. Avoiding long wait times and busy hospitals for a blood sample can be a very tiring and time-consuming effort. Some seniors may risk their health for such an endeavor and paying for the service can help alleviate such a worry. These types of facilities and services are more common and work on the road from client to client. As a franchisee, this type of investment is low in costs because there is no permanent location and it’s really simple to run. In fact, one would barely have any involvement and it tends to run itself. A franchise would be a wise investment because a lot of collection agencies have to work directly with laboratories and within the health care system. A franchise would cover all the legalities and insure a safely run business. Though this type of mobile service has been around for sometime, it has become much more popular with consumers having a more immediate purchasing
desire and more people willing to pay out of convenience. Senior care franchise options cover a lot of bases and include very different types of facilities that caters to a variety of senior’s needs. Nowadays, families are willing to pay for a safe and healthy environment for their loved ones, with a guaranteed reputation. A franchise in this field would have a hefty star up fee and require a lot of research including comparing franchises and discussing options with current franchisees in your area. However the legwork pays off. It has a guaranteed clientele with over 6.5 million seniors in the US needing assistance, which is expected to double by the year 2020. As the aging population grows, there will be more money to invest in the field of senior care.
Senior Care is a fulfilling career choice that can be an expensive but it’s safe investment with a quick return that is guaranteed, especially with an aging population increase with more money to spend. ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina
Gill became a freelance journalist in 2008. She has
worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.
Look out for our next special feature: BUSINESS SERVICES FRANCHISING Franchising USA
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Christopher Conner, President, Franchise Marketing Systems
Senior Franchises
offer Good Business Decisions One aspect of franchising that makes the industry so exciting is that the business tends to be a very accurate depiction of what is growing in small business and where small business trends are pointing. One constant in the franchise market has been the intensely growth oriented senior franchise market segment. This market has literally exploded since the early 1990’s with the advent of in-home senior care models hitting the market through brands such as Visiting Angels or Comfort Keepers, who in this time have each opened several hundred senior franchise businesses. Since that time, a wide variety of different senior care franchises have not only launched their franchise models, but have been able to experience significant growth in a relatively short time period.
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Mobility City is a new, innovative brand that provides mobile wheelchair repair to seniors who are unable to leave their home. The entire business can be operated from a home office location and is essentially based in a van. The value to the senior needing their wheelchair or mobility device to work correctly is enormous and the cost to deliver services is primarily just time and advertising. Another brand which developed their franchise in 2011, Medex, provides nonemergency transportation to seniors. Yet another brand, Avendelle, provides senior services from a converted residential home. Mobility City just launched their franchise, but has receive enormous interest throughout the Southeastern U.S. in only a very short time period. The Medex Franchise was able to essentially sell out the country in only three years of franchising the business model and Avendelle just recently sold a 500 unit master franchise arrangement in the Country of Turkey.
The numbers don’t lie with a senior services market in the U.S that is estimated to be $436.6 billion by 2018, with a compound annual growth rate (CAGR) of 6.4% for the five-year period, 2013 to 2018. Incredible, seemingly unsustainable growth for a market segment that is already enormous….how can it grow that much consistently for so long of a time period?
None of these brands are household names and have experienced significant growth which indicates the amazing opportunity that senior services represents.
My advice to those in search of a franchise investment who aren’t necessarily locked into an industry segment is look first at the senior market; the numbers certainly
The answer is an enormous population that is hitting “senior status” and with each passing day, more people join this demographic. The growth of incoming potential senior customers is so large in fact that all research points to the market being largely under-served even with the exponential growth that has taken place in the market. Even with the large number of in-home senior care franchises that have had so much success, there are new, effective franchise brands that have launched in recent years and also had exponential growth.
play in your favor, you just need to find the right brand for your interests. As with any business, there are potential obstacles to success with senior franchise businesses as well. The majority of the senior service franchises require relatively high degrees of staffing requirements to manage and operate. These labor costs may also vary greatly depending on your state and market as generally they are required to be W-2 employees in today’s labor regulations. One should make sure that minimum wage requirements or worker’s comp costs do not take a good business into being a bad one for your market if the expenses increase for a given area. Technology is critical to manage most senior service franchises, make sure there is a great system in place and that your senior franchise has validated how and why they use technology to make managing the business easier and simpler. There is liability in senior service franchising as you are taking people’s lives into your hands with most of these businesses, the level of importance and accuracy that the business model is
operated by can literally mean life or death for your customers. Make sure that the systems are in place and that the people running the day to day business not only are good at what they do, but also that they have compassion and concern for those the business serves. Plan on having more insurance and higher insurance costs than you plan for, it is just good business in the senior franchise market segment. With growth at all time highs in senior franchising, one needs to define how they will get business and what that franchise marketing system will look like as they take their new brand to market. The positives for senior franchising really do outweigh the negatives, so if the category has any interest to you at all and you have the compassion an understanding for how to service our elders, this is the market you should be investigating. Find the right senior franchise, research the financials and understand how that particular product or service category fits into the overall senior market. In my opinion, choosing a franchise with all signs pointing up in a big way on the consumer side of the business is just a good business decision.
“My advice to those in search of a franchise investment who aren’t necessarily locked into an industry segment is look first at the senior market; the numbers certainly play in your favor, you just need to find the right brand for your interests.” Christopher Conner is the President of Franchise Marketing Systems and has spent the last decade in the franchise industry working with several hundred different franchise systems in management, franchise sales and franchise development work. www.franchisemarketingsystems.com
Chris Conner
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Jeff Bevis, Co-founder & CEO, FirstLight Home Care
From Baby Boomers to a Booming Business Opportunity Franchising USA
As more Americans age, the senior care industry continues to grow
In just two short years, 56 million Americans will be 65 years old or older. Looking forward a few decades, that number will grow to 84 million in 2050. As a nation, the U.S. is facing the challenge of caring for increasing numbers of seniors, most of whom who would prefer to age at home.
“Non-medical care is becoming one of the fastest growing employment sectors and has the highest demand for services across the home care industry.” These services can include: • Conversation and companionship • Basic help around the house, such as light housekeeping, laundry service or meal preparation • Transportation to and from appointments
The dilemma in hard numbers:
• Reminders to take medication
• According to research, 90 percent of seniors want to stay in their homes as long as possible;
• Assistance with eating, bathing or mobility
• About 80 percent believe they will stay in their current homes throughout the rest of their lives; • but, of those Americans who reach the age of 65, at some point nearly 70 percent will be unable to care for themselves without assistance. In this environment, entrepreneurs have an opportunity to invest in a growing senior care market through a reputable franchise network. Non-medical home care services can allow seniors to retain their independence while aging in place. It is estimated to be a $70 billion market segment that is currently being served by either independent providers or overburdened family caregivers. Meanwhile, demand for the services continues to accelerate. Non-medical care is becoming one of the fastest growing employment sectors and has the highest demand for services across the home care industry.
What is non-medical home care? Non-medical home care fits in the niche between people needing medically skilled services and people who need non-medical companionship and help around the house. Home care offers companion care and personal care services to help seniors maintain their freedom and independence.
The majority of non-medical home care services are private pay today to ease the burden on the family. To effectively serve this growing population correctly, more and more states are creating licensure requirements for non-medical home care companies although it is inexpensive compared to the cost of licensing for medical in-home care companies.
Advantages of a non-medical care business Because non-medical caregivers are not required to be nurses, labor costs are much lower compared to medical care, overhead costs factors are lower and typical profit margins for non-medical care business may be equal to or greater than their medically focused counterparts. The costs of insuring a non-medical care business are a fraction of those to insure a medical business.
The importance of a franchise With so much market potential for non-medical home care for seniors, why shouldn’t an entrepreneur build a business from scratch and avoid franchise fees? The reason is simple. Successful franchise systems provide greater potential for longterm success and growth than standalone business. By joining a franchise, you gain established brand recognition that will continue to grow. Successful franchisors
Jeff Bevis
have also developed administrative and support processes that provide their partners with tools and programs that help them accelerate their growth vs the industry. The best franchises provide their partners with back-office systems for everything from sales and marketing to human resources and finance. Why reinvent the wheel?
Summing it up The U.S. population is continuing to age, and demand for non-medical home care services for seniors will continue to grow. The home care industry is still young and the growth potential is significant. Partnering with a successful home care franchise can give you access to the tools needed to thrive in a marketplace that is resistant to the disruptions being seen in retail and other industries. Jeff Bevis is co-founder and CEO of FirstLight Home Care, which is a toprated non-medical home care provider with a network of offices that provides more than 93,000 hours per week in care for more than 4,300 clients in over 33 states. FirstLight Home Care has an average employee retention rate of 80 percent across its entire network. www.firstlighthomecare.com
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Jeff Huber, President & CEO, Home Instead Senior Care
Addressing the Next Great Issue Facing Our Nation:
Senior Care Jeff Huber
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Care for our aging seniors is quickly becoming a significant issue facing our society and our economy.
according to AARP. Now consider that the average age of a Home Instead Senior Care client is 78.
It’s a mathematical certainty that there will not be enough caregivers for the growing number of seniors by 2050 unless we rethink how and where seniors live their final years. The oldest Baby Boomers, America’s second largest generation, turned 71 this year. Consider that nearly 90 percent of those over 65 want to stay in their residence for as long as possible
The home care sector has grown by 6.6 percent annually since 2013, compared to 2.6 percent for the overall franchise industry, according to The Wall Street Journal. And the need will only continue to grow as the population ages and families struggle to meet the needs of their aging relatives.
Imagine the growth potential in this industry.
A Growing Industry
With the demand for home care services
“With the demand for home care services rising and the initial cost of home care franchising relatively low . . . entrepreneurs are increasingly investing in the booming industry.” rising and the initial cost of home care franchising relatively low, coupled with the fact that the return on investment for home care franchises is frequently higher than other franchise industries, entrepreneurs are increasingly investing in the booming industry.
Choosing the Right Partner While great potential for growth exists in this industry, it is critical to choose the right partner to truly succeed. Entrepreneurs can have passion for their business, but without the support of the right partner it can be challenging. When researching opportunities, there are several key things franchisees should consider: • Brand Reputation - The home care industry is unique. Franchisees are working directly with older adults and their families and are truly making a difference in their lives. When choosing a franchise partner, it’s important to take the company’s reputation and values into account because they will guide the way the business operates. Franchisors set the tone for the brand, but franchisees are the ones connecting with the community and living out the values every day. • Corporate Support - Perhaps one of the greatest advantages of opening a franchise is the resources provided by the home office. Joining a franchise network gives franchisees access to many resources, such as marketing, training and development opportunities. Franchisors like Home Instead Senior Care offer ongoing training opportunities to ensure franchisees are set up to succeed. • Networking - The network of other franchise owners is also an important resource to consider and explore. Networking and collaborating
with other home care franchisees can offer great insights into the business and what it takes to own a successful franchise. It can also be an extremely positive environment to work within a network of other owners. The energy and drive of the other franchise owners can be great motivation.
will only continue to grow as the population ages and seniors choose to remain at home. However, it will be key for franchisees to choose the right partner to truly succeed and make a difference in the lives of the families they support.
• Right Fit - Perhaps the most important factor in choosing a franchise is ensuring it’s a right fit both with your personal passions and your community needs. For example, our franchise owners report a great deal of personal fulfillment in knowing they are helping older adults live a more independent life on their own terms, while also addressing a significant societal need.
Jeff Huber is President and Chief Executive Officer of Home Instead Senior Care, the leading global provider of home care services for older adults. Huber was named President in 2010 and added the role of Chief Executive Officer in May 2015. In his position, Huber oversees global operations and directs strategic planning and advocacy initiatives for the franchise network. Huber joined Home Instead Senior Care in 1998 as a Franchise Development Manager when the organization consisted of 125 franchises. Today, Home Instead Senior Care provide more than 60 million hours care annually through more than 1,100 franchises offices in 12 countries. Under Huber’s leadership, Home Instead is committed to addressing the challenges of the aging global population by promoting consumer choice in care. Huber has also increased the organization’s commitment to leadership development and training to empower CAREGivers and families and to advance the organization’s mission: To enhance the lives of aging adults and their families.
Opportunity in the home care industry
franchises.homeinstead.com
• Longevity - When opening a new business, you assume you’re in it for the long haul. But statistics from the Bureau of Labor shows that about 20 percent of small businesses fail in their first year, and 50 percent of businesses fail in their fifth year. To ease this risk, look for a business opportunity that is established and has staying power. The home care industry is one such opportunity that will continue to grow. Couple that opportunity with a franchisor that is an established leader in the industry and has decades of experience to draw from in the tools and support it provides to help franchisees succeed.
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Evan Hackel, CEO of Tortal Training and Ingage Consulting
Why Your Senior Care Staffers Need to Be Great Listeners
Evan Hackel
If you have ever observed day-to-day operations at a senior care facility, you know how important it is that members of the staff know how to listen well. A young woman named Aisha takes her aging mother Margaret on a tour of a senior living community. After the tour, they sit down for a conversation with Mark, one of the center’s admission counselors. Aisha has dozens of questions to ask, as does Margaret, who is understandably nervous about starting a new chapter of her life. The success or failure of the conversation is entirely dependent on how well Mark understands Aisha and Margaret’s questions - and how well he answers them. John, a robust man who is just beginning to exhibit some signs of age-related
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dementia, moves into an assisted care facility. Yet due to the stress of his new living situation, he has a hard time understanding details of life in the facility - the times meals are served, where they are served, how he can sign up for special excursions and experiences outside the facility, and more. He asks his questions once, and then feels anxious when he realizes that he will need to ask the same questions again. He needs to connect with someone who really listens to his questions, answers them, and makes sure he has access to the information he needs to know, when he needs to know it.
not already be formulating a response in their minds. Good listening is all about focus. Compartmentalizing - Your staffers, like many workers, are handling several tasks at the same time. Yet you can train them to think in only one “compartment” at a time. If your admissions counselors are speaking with new potential residents, for example, they can learn to concentrate on that task alone and ignore ringing phones and interruptions.
Here are some important listening skills that your staffers can master:
Observing - Train employees to observe and notice something about each person they encounter. Employees who take a moment to observe something personal about each community member will listen better to them.
Active listening - The most important skill is to avoid interruptive listening, which means that while people are speaking to your staffers, they should
Connecting on a personal level - Employees can be trained to start each interaction by asking a question like, “Where did you travel from to see
Training Your Staff to Listen Better
us?” or, “What are your most important interests and activities?” Connecting in that way is more than a pleasantry; it establishes a level of communication where better listening happens. Repeating back - Repeating back to people what they have said only takes a moment, and it helps assure that your employees accurately understood what they heard. A good technique is to say, “Let me be sure I understood” and then to restate in their own words what they just heard. Following those steps elevates the level of communication and assures that residents and customers have been heard, respected and well served.
What’s the Best Way to Teach Listening Skills? Work simulations offer a great way to teach the listening skills I recommend in this article. Have some trainees take the roles of residents and customers, and others take the roles of your front-line staffers. Practicing real-world interactions in that way makes sure that good listening skills will “stick,” be used, and elevate the quality of the experience your facility delivers. Evan Hackel, the creator of the Ingaged Leadership concept, is a recognized business and franchise expert and consultant. Evan is also a professional speaker and author. Evan is Principal and Founder of Ingage Consulting, a consulting firm headquartered in Woburn, Massachusetts. A leader in the field of training as well, Evan serves as CEO of Tortal Training, a Charlotte North Carolina-based firm that specializes in developing and implementing interactive training solutions for companies in all sectors. Follow @ehackel. www.Ingage.net
“Employees who take a moment to observe something personal about each community member will listen better to them.” Franchising USA
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Jake Brown, President & CEO of Always Best Care
Five Things To Look For When Considering A Good Franchise Opportunity
Are you ready to embark on the journey we know as franchising? Similar to choosing a reliable company to provide care for your loved one, the opportunity to choose a franchisor to invest in is a significant decision that should not be taken lightly. The franchise model has proven to be a successful investment for thousands of entrepreneurs in a vast array of industries. While many have excelled in this venture, it’s vital to dig deep and do your research to ensure it’s the perfect fit for your personal needs and business goals. As someone who has been in your shoes, I’ve had to make the conscious effort to prioritize and research to make the
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most informed decision. Over the years, I’ve invested in franchise opportunities as a business owner and advised many colleagues on how to make educated and confident decisions about which brand to invest in. If you currently find yourself contemplating which company is the right one for you, keep in mind the below guidelines that will help narrow your search.
1
Market Opportunity
One of the first things I recommend looking at is the market opportunity of the product or service you’re thinking of investing in. Whether it’s entertainment, fitness or home services, the demand will always vary depending on the climate of the current economy. As an example, it’s a known fact that Baby Boomers are one of the largest generations that the United States has ever experienced. What does that mean for the senior care market? That the need for senior care continues to increase as over 10,000 people turn 65 each day. With these demographics rapidly shifting over the next 30 years, it’s safe to say that the senior care market is a strong industry to invest in right now.
2
Financial Performance
This is where you need to determine where your priorities lie and what the most realistic option is for you. Ask yourself, is it more important to find a lower investment model with higher revenue potential? Or to find a higher investment model that may not have as much revenue potential but will generate a lot of revenue right when you open your doors? Once you have this question answered and narrowed down your options to a few brands that you’re drawn to, ask about the financial performance of existing franchisees. If their proven financial performance aligns with your priorities, continue to explore the brand.
3
Company Foundation & Support
The history and founding of a franchise company is an important aspect of every brand. The inspiration that sparked the
“Every franchise concept within a similar category will bring something different to the table, but there will always be at least one thing that stands out to you and will separate one brand from the rest.” business’s conception along with its current vision and mission are components that you should keep in mind while doing your research. Was the company founded to inspire change or was it founded because it was a hot concept to launch at the time? This may help you eliminate options based on your values. Additionally, look at who’s running the business today. Who is the current management team at the franchisor level? Keep in mind that this is the team that will train you, deliver the franchising model to you and provide continuous support throughout the entire process. This is one area you don’t want to settle on.
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Differentiator
When I meet with potential franchisees I like to make the joke that we are called Always Best Care for a reason, because we believe we are the best at what we do. As I believe that, I’m sure all our competitors feel the same about the services they offer. But opinions are different than facts, and you should be able to determine what sets a specific brand apart from its competitors. At Always Best Care, we offer three tiers of senior care (non-medical in home care, assisted living placement and home health), which we consider our differentiator. Every franchise concept within a similar category will bring something different to the table, but there will always be at least one thing that stands out to you and will separate one brand from the rest.
best ways to compare one franchise opportunity to another is by looking at what operational advantages and strengths it has by way of its systems, platforms and business relationships. This can be discovered through validation with other franchise owners, which will allow you to determine the commitment of the franchise’s efforts to support your success. At Always Best Care, we say, “your success is our success,” and our focus is just that – the success of every franchise owner. Jake Brown first joined Always Best Care Senior Services as COO in November 2010. Previously, he was SVP of Operations for Cartridge World, COO of Cartridge World Northern California and CEO of Cartridge World Hawaii. With more than 25 years of experience in franchise and dealer network businesses in six different industries, he has held various senior management positions with companies such as T-Mobile, ePhones, California Closets, Round Table Pizza and ComputerLand. He has the rare experience of having been a franchisee, a master franchisee and a corporate executive. www.alwaysbestcare.com
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The Franchise System & Model
Last but not least, does the franchise opportunity you are considering have the system, model, vendor relationships and technology platforms for you to be successful in the industry? One of the
Jake Brown
Franchising USA
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